Tamara
Lv 6
Tamara asked in Business & FinanceCredit · 6 years ago

I missed a credit card payment. A few days late. Do I pay it now, or do I wait for the next bill?

6 Answers

Relevance
  • 6 years ago
    Favorite Answer

    Pay the bill now, however call the creditor first.

    If you have no history of late payments, then you may be able to get them to waive the late fee. You also want to see if they will be willing to not hike your interest rate to the penalty-rate level, which can be 29% or greater. If the first customer support person you speak with can't authorize this, ask to speak with a supervisor.

    The longer you have been a customer in good standing, the greater the chances they will be lenient with you. Also, if you have a good reason for missing your payment that you can prove e.g., you or a loved one was very ill or hospitalized, that increases your chances, too.

    As Rei mentioned, a late payment doesn't get reported to the credit bureaus until you are 30-days late, so, for sure, don't let that happen.

  • Anonymous
    6 years ago

    PAY NOW. Interest and late fees start the day after the payment is due, so the sooner you pay, the less you will owe. Also, late payments how up on your credit score when they are 30 days late or more.

  • wg0z
    Lv 7
    6 years ago

    Pay as much as can as soon as you can to limit the interest charges.

    A late fee is likely.

  • Biff
    Lv 7
    6 years ago

    waiting will only increase the penalty and maybe freeze your card from being used

  • How do you think about the answers? You can sign in to vote the answer.
  • Anonymous
    6 years ago

    Pay now for sure.

  • Never
    Lv 7
    6 years ago

    pay ASAP.

Still have questions? Get your answers by asking now.